Biogen Inc. (BIIB) Receives “Neutral” Rating from Robert W. Baird
Robert W. Baird reissued their neutral rating on shares of Biogen Inc. (NASDAQ:BIIB) in a research note issued to investors on Saturday morning. The firm currently has a $284.00 target price on the biotechnology company’s stock.
Several other analysts have also commented on BIIB. Credit Suisse Group AG set a $322.00 price target on shares of Biogen and gave the company a hold rating in a research report on Sunday, September 18th. Vetr upgraded shares of Biogen from a sell rating to a hold rating and set a $317.79 price target on the stock in a research report on Wednesday, August 3rd. Piper Jaffray Cos. set a $335.00 price target on shares of Biogen and gave the company a buy rating in a research report on Thursday. Morgan Stanley restated a buy rating and set a $385.00 price target on shares of Biogen in a research report on Wednesday, August 3rd. Finally, BMO Capital Markets restated a market perform rating and set a $294.00 price target on shares of Biogen in a research report on Saturday. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $338.93.
Shares of Biogen (NASDAQ:BIIB) traded down 0.24% during mid-day trading on Friday, hitting $305.20. 741,587 shares of the stock traded hands. The company has a market cap of $66.40 billion, a P/E ratio of 17.26 and a beta of 0.75. Biogen has a 12 month low of $223.02 and a 12 month high of $333.65. The firm has a 50 day moving average of $299.88 and a 200 day moving average of $287.26.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, October 26th. The biotechnology company reported $5.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.97 by $0.22. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.91 billion. Biogen had a net margin of 34.03% and a return on equity of 40.02%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business earned $4.48 earnings per share. Equities analysts anticipate that Biogen will post $20.22 EPS for the current fiscal year.
In other news, EVP Adriana Karaboutis sold 262 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $311.94, for a total value of $81,728.28. Following the sale, the executive vice president now directly owns 7,579 shares of the company’s stock, valued at approximately $2,364,193.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Caroline Dorsa sold 27,570 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $314.00, for a total transaction of $8,656,980.00. Following the completion of the sale, the director now directly owns 19,663 shares in the company, valued at $6,174,182. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in BIIB. First Heartland Consultants Inc. increased its stake in Biogen by 13.6% in the third quarter. First Heartland Consultants Inc. now owns 1,792 shares of the biotechnology company’s stock worth $561,000 after buying an additional 215 shares during the period. Advent Capital Management DE increased its stake in Biogen by 13.3% in the third quarter. Advent Capital Management DE now owns 17,000 shares of the biotechnology company’s stock worth $5,322,000 after buying an additional 2,000 shares during the period. Auxier Asset Management increased its stake in Biogen by 25.9% in the third quarter. Auxier Asset Management now owns 22,635 shares of the biotechnology company’s stock worth $7,085,000 after buying an additional 4,650 shares during the period. ETRADE Capital Management LLC increased its stake in Biogen by 63.1% in the third quarter. ETRADE Capital Management LLC now owns 4,625 shares of the biotechnology company’s stock worth $1,448,000 after buying an additional 1,789 shares during the period. Finally, Piedmont Investment Advisors LLC bought a new stake in Biogen during the third quarter worth about $14,107,000. 87.75% of the stock is currently owned by institutional investors and hedge funds.
Biogen Company Profile
Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.
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